National Bank of Pakistan Loan - NBP Advance Salary Loan - Advance Salary Loan NBP
Advance Salary
Personal Loan
• Take out a Rs. 3 million loan depending on your earnings.• Lowest Rate of Mark-Up
• Choose from easy instalments of up to 60 months.
• Quick processing and disbursement of funds.
• There is no requirement for a minimum income, co-pays, or insurance premiums.
• For permanent workers of the government, semi-government, and autonomous entities who are paid through the National Bank of Pakistan (NBP).
Terms and Conditions
Eligibility Criteria:
NBP Advance Salary is available to permanent employees of Federal, Provincial, Semi-Governmental, and Autonomous Bodies who get their salary through NBP.Financing Capacity* : It is possible to borrow up to 20% of one's net take-home pay, however the total amount borrowed should not exceed Rs.3,000,000/-.
Tenure:
The NBP Advance Salary Finance has a maximum term of 5 years (60 months).Age Criteria:
The borrower's maximum age at the time of the loan's maturity shall not be more than 59 years and 6 months.Please contact the NBP Branch in charge for more information.
* There are certain restrictions.
FAQ
Q. What is NBP Advance Salary Loan?
A. NBP Advance Salary is a personal loan that allows salaried persons to borrow money to cover personal demands and costs.Q. Who is eligible for an Advance Salary Loan from NBP?
A. This loan is available to permanent workers of the federal/provincial government, semi-government, and autonomous entities who have NBP accounts.
Q. What is the NBP Advance Salary Age Criteria?
A. The customer's age at the time of the finance's maturity should not be more than 59 years and 6 months.
Q. Is there a need for a minimum income and collateral to apply for NBP Advance Salary?
A. No minimum income & Collateral requirement.
Q. What is the maximum amount that an NBP Advance Salary Loan can be used for?
A. You can borrow up to Rs.3,000,000/-, subject to the debt load criterion, which is not more than 50% of your net disposable income.
Q. What is the payback period and procedure for an NBP Advance Salary Loan?
A. Monthly instalments will be debited straight from your NBP Salary Account for a flexible term of up to 5 years.
Q. Is there any requirement of References?
A. Yes, two work-related references are necessary (same or higher grade). The references' salary accounts might be in any bank.Q. On NBP Advance Salary, what is the relevant mark-up rate?
A. Mark-up rate @ 18% Fixed (per annum).
Q. Is it possible to use the Rollover/Enhancement Facility? Is there any advantage for current customers?
A. Yes, current Advance Salary clients with a strong payback history can use the Rollover/Enhancement feature at any time at a lower markup rate.
Q. What is the NBP Advance Salary processing fee/other charges?
A. The charges will be the following:
Processing Fee:
For new customers: Rs.2000/- or 2% of the loan amount, whichever is greater, up to a maximum of Rs.20,000/-.
For Rollover Customers: Rs.2000/- or 2% of net new/enhanced amount, whichever is greater, up to a maximum of Rs.20,000/-
Verification Charges:
Actual to the Verification AgencyDocumentation Charges:
At ActualQ. How can I apply?
A. Ask for the NBP Advance Salary Loan Application Form and the required papers at your NBP Branch where you keep your salary account. Application FormContact:
For further information and to enrol for NBP Advance Salary, please contact your local NBP Branch.Main Site
https://www.nbp.com.pk/advancesalary/TermsAdvSalary.aspx
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